Hi there,
I have sold ESPP and RSUs from previous employer. I have ETrade Supplemental and also form 3922 of past years from the years when they were bought.
After importing ETrade forms, I selected the option which said "My 1099-B has info I know isn't right, or it has extra info I need to add" .
ESPP:
Now I click Edit on each ESPP Shares and I reached the screen "Tell us about your E-Trade 1099B". I have the form Here are my questions:
1) Should I change the amount of Total cost basis (sum off all 1e) with the Adjusted Cost basis from ETrade Supplement form or should I proceed as below in screen "Tell us about your E-Trade 1099B"? Or should I leave it as original cost basis in 1099B?
2) Upon Continue and clicking done, should I do the following?
a) Choose: "This stock was acquired through Employee Stock Purchase Plan ->
b) Chose ESPP->
c) Chose Employer from drop down though 2 entries appear for my employer - One in caps and one in lower case. I chose one of them.->
d) I then chose "Walk me through adding more info.:" ->
e) Enter 15 for discount ->
f) Yes (one purchase lot) ->
g) "Yes I have form 3922"
h) Enter all the info from from 3922 in the screen "Let's get some purchase info about this ESPP sale from Form 3922)
j) I get the screen "Good news: We've adjusted your ESPP cost basis for you". The adjusted values shown match the values in my ETrade 1099-Supplemental.
k) "Compensation Income" screen comes up.
3) In the "Compensation income" screen, is the following the right way? I ask because I did not have to enter all this in TT Premier 2019 , it just prompted me to enter "Adjusted Cost Basis" which is not in this 2020 TT version.
a) I notice that the profit shown = "Total Proceeds-Cost Basis", which higher the Adjusted Gain shown in Supplement. I hope that is ok. Continue ->
b) In the "Capital Gain" screen, Long-term gain shown = Adjusted Cost basis shown in Supplemental Form.
c) Screen : "Select any less common adjustments that apply" I choose Continue ->
4) After performing all the above steps, when I click on "done" and go back to Edit , I see "Cost Basis" and not adjusted cost basis in "Box 1e" in the screen "Tell us about your E*Trade Securities LLCc1099-B". Is that ok?
RSU:
1) I edit each RSU ->
2) Screen "Tell us about your E*Trade Securities LLCC 1099-B": Box 1e is red and empty. Is it ok to enter the Adjusted Cost basis from my ETrade Supplement here?
3) Once I enter the screen "Enter vesting (or Release) information" screen, is it ok to enter the values here from my ETrade -> Tax Information -> Cost Basis -> Document from employer about release of those shares?
Is the above the right procedure to enter the information for ESPP and RSUs? I see many different options and hence would appreciate your kind confirmation and advicee.
Thanks in advance for your advice.
Regards.
